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5555 W. Newport Ave. 3423 N Central Ave 5 Unit Apartment Building $499,000 ($99,800/Unit) 4.48% Cap Rate Chicago, IL 60634
Investment Highlights
- Building-Owned Common Area Laundry
- 450 SF of Retail Space
- Large Residential Floorplans (2BR-4BR)
Executive Summary
5555 W. Newport is a 5-unit mixed-use asset located in Chicago’s Portage Park neighborhood. The property includes one ground-floor retail space along with four residential units, consisting of two 4-bedroom apartments, one 3-bedroom apartment, and one 2-bedroom apartment—a rare large-format mix that appeals to renters seeking extra space in a strong Northwest Side rental corridor. Built in 1961 with 4,400 rentable square feet, the building features durable masonry construction, a building-owned common area laundry, separate tenant-paid electric and gas, and owner-paid water. Positioned on a quiet block near parks, schools, retail, and major transit routes, the property provides steady income with clear upside potential through interior modernization. B3-1 Zoning.
Financial Summary (Pro Forma - 2027) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$102,600
|
$14.87
|
| Other Income |
$480
|
$0.07
|
| Vacancy Loss |
$5,154
|
$0.75
|
| Effective Gross Income |
$97,926
|
$14.19
|
| Taxes |
$15,315
|
$2.22
|
| Operating Expenses |
$23,372
|
$3.39
|
| Total Expenses |
$38,687
|
$5.61
|
| Net Operating Income |
$59,239
|
$8.59
|
Financial Summary (Pro Forma - 2027)
| Gross Rental Income | |
|---|---|
| Annual | $102,600 |
| Annual Per SF | $14.87 |
| Other Income | |
|---|---|
| Annual | $480 |
| Annual Per SF | $0.07 |
| Vacancy Loss | |
|---|---|
| Annual | $5,154 |
| Annual Per SF | $0.75 |
| Effective Gross Income | |
|---|---|
| Annual | $97,926 |
| Annual Per SF | $14.19 |
| Taxes | |
|---|---|
| Annual | $15,315 |
| Annual Per SF | $2.22 |
| Operating Expenses | |
|---|---|
| Annual | $23,372 |
| Annual Per SF | $3.39 |
| Total Expenses | |
|---|---|
| Annual | $38,687 |
| Annual Per SF | $5.61 |
| Net Operating Income | |
|---|---|
| Annual | $59,239 |
| Annual Per SF | $8.59 |
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Fireplace
- Heating
- Kitchen
- Family Room
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+1 | 2 | - | 1,150 |
| 3+1 | 1 | - | 1,000 |
| 2+1 | 1 | - | 850 |
1 1
Walk Score®
Very Walkable (87)
Property Taxes
| Parcel Number | 13-21-312-038-0000 | Total Assessment | $72,415 (2025) |
| Land Assessment | $16,818 (2025) | Annual Taxes | $15,315 ($2.22/SF) |
| Improvements Assessment | $55,597 (2025) | Tax Year | 2027 |
Property Taxes
Parcel Number
13-21-312-038-0000
Land Assessment
$16,818 (2025)
Improvements Assessment
$55,597 (2025)
Total Assessment
$72,415 (2025)
Annual Taxes
$15,315 ($2.22/SF)
Tax Year
2027
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5555 W. Newport Ave. | 3423 N Central Ave
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